Tennessee Insurance Guide

Home to the Appalachian mountain chain, country music and Davy Crockett lore, Tennessee offers an interesting mix of rural landscapes and urban locales to its residents. It also has many interesting insurance regulations.

Tennessee Auto Insurance

Tennessee auto insurance regulations do not require resident drivers of this at-fault state to carry personal injury protection (PIP) or uninsured motorist coverage. They do require $50,000 in bodily injury liability in the event of a multiple injury accident, and $25,000 for a single-person injury. They also require $15,000 in property damage liability.

Tennessee Health Insurance

Tennessee health insurance regulators do not require insurance companies operating in the state to offer guaranteed health insurance policies to individuals. That means some will be uninsurable, but there is a state high-risk pool that will help them get the coverage they need. Since Tennessee does not have a state income tax, there is no deduction for health savings account (HSA) contributions on the state level.

A group with as few as 2 members can be considered a qualifying group for group health insurance. Individuals within the group who have had a 63-day or longer break in coverage over the past 6-months may find that the group insurance policy excludes their pre-existing condition for up to 12-months. In groups with 3-25 people, the rates are protected by rate bands.

Tennessee Home Insurance

Exposed to hurricanes and tornadoes, Tennessee residents may not be required to have Tennessee home insurance by state regulators, but they’d be awfully exposed without it. In 2010, the state was met with an historic and life-changing flood that has resulted in many lost homes, businesses and lives. It is an unfortunate lesson for all those without adequate flood insurance coverage.

Tennessee Life Insurance

The Tennessee Life and Health Insurance Guaranty Association was created in 1989 by the Tennessee life insurance regulators in order to answer the concerns of consumers who were scared that their life insurance company might become insolvent and unable to pay claims as promised. The association provides up to $300,000 in death benefits and $100,000 in cash surrender values to qualified claimants.